Case-Shiller: Home Prices Accelerate in January

According to the Case-Shiller report released today, the Seattle market has been calm and relaxed, with values remaining stable over the past seven months, as the index drifts between 141 and 142 (41%-42% higher than in the year 2000).

January was crazy.

Sales reached a six-year high, which isn’t very high, because January is usually the month with the second-fewest sales behind December.

The market is in a frenzy, and the data doesn’t really seem to show just how insane things have gotten in the local market.

The Northwest Multiple Listing Association has felt the need to remind members (agents) how to behave in a fiery-hot market with many buyers chasing absurdly few listings. Agents have been reminded to be cooperative when showings overlap; to not “hog” the property and allow other agents to show, as well. Agents have also be warned about pre-marketing listings, as the NWMLS has had a strict and universally adhered-to policy of submitting new listings within 24 hours of receipt and exposing them to the entire marketplace.

But if you look at the data, you’ll see calm and tranquility. We see that we’re back to 12-hour work days, which we don’t mind at all!